The Mosaic Company

08/04/2026 | Press release | Distributed by Public on 08/04/2026 14:16

Second Quarter 2026 Performance Data (XLS)

Publish Consolidated Summary

The Mosaic Company
Selected Calendar Quarter Financial Information
(Unaudited)
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Consolidated data (in millions, except per share)
Diluted net earnings (loss) per share $ 0.38 $ 0.53 $ 0.75 $ 1.29 $ 1.29 $ (1.64) $ (0.81) $ (0.86)
Notable items impact on earnings per share(a) 0.04 0.08 0.26 0.78 0.25 (1.86) (0.86) (0.99)
Adjusted diluted net earnings per share(a) $ 0.34 $ 0.45 $ 0.49 $ 0.51 $ 1.04 $ 0.22 $ 0.05 $ 0.13
Diluted weighted average # of shares outstanding 319.4 318.5 318.2 319.0 319.4 317.4 317.5 317.9
Total Net Sales $ 2,811 $ 2,816 $ 2,621 $ 3,005 $ 3,452 $ 2,974 $ 2,998 $ 2,824
Cost of goods sold 2,395 2,514 2,133 2,487 2,900 2,631 2,762 2,610
Gross Margin $ 416 $ 302 $ 488 $ 518 $ 552 $ 343 $ 236 $ 214
SG&A 149 113 123 167 126 119 136 131
Other operating (income) expense 153 89 27 107 87 324 472 119
Operating earnings $ 115 $ 100 $ 338 $ 244 $ 339 $ (100) $ (372) $ (36)
Interest expense, net (42) (47) (41) (53) (46) (48) (55) (63)
Consolidated foreign currency gain/(loss) 101 (419) 133 169 (1) (30) 38 (40)
Earnings from consolidated companies before income taxes $ 174 $ 191 $ 313 $ 564 $ 599 $ (263) $ (286) $ (302)
Provision for (benefit from) income taxes 48 34 63 146 175 256 (31) (34)
Earnings (loss) from consolidated companies $ 126 $ 157 $ 250 $ 418 $ 424 $ (519) $ (255) $ (268)
Equity in net earnings (loss) of nonconsolidated companies 5 9 - 0 2 - 0 - 0 - 0 2
Less: Net earnings (loss) attributable to noncontrolling interests 9 (3) 12 9 13 - 0 3 7
Net earnings (loss) attributable to Mosaic $ 122 $ 169 $ 238 $ 411 $ 411 $ (519) $ (258) $ (273)
After tax Notable items included in earnings $ 15 $ 25 $ 82 $ 249 $ 100 $ (590) $ (273) $ (315)
Gross Margin Rate 15% 11% 19% 17% 16% 12% 8% 8%
Effective Tax Rate (including discrete tax) 28% 18% 20% 26% 29% (97%) 11% 11%
Discrete Tax benefit (expense) $ 4 $ (11) $ 26 $ (1) $ (2) $ (212) $ (27) $ 36
Depreciation, Depletion and Amortization $ 238 $ 283 $ 243 $ 262 $ 277 $ 268 $ 317 $ 292
Accretion Expense $ 26 $ 31 $ 32 $ 33 $ 33 $ 32 $ 35 $ 34
Share-Based Compensation Expense $ 5 $ 7 $ 10 $ 7 $ 7 $ 6 $ 10 $ 8
Notable Items $ (28) $ 32 $ (83) $ (347) $ (143) $ 414 $ 288 $ 317
Adjusted EBITDA(b) $ 448 $ 594 $ 544 $ 566 $ 806 $ 505 $ 416 $ 407
Net cash (used in) provided by operating activities $ 313 $ 219 $ 43 $ 610 $ 229 $ (56) $ 104 $ 167
Cash paid for interest (net of amount capitalized) 20 72 12 82 20 78 17 91
Cash paid for income taxes (net of refunds) 111 53 76 75 89 81 64 45
Net cash used in investing activities $ (248) $ (277) $ (341) $ (319) $ (363) $ (287) $ (369) $ (298)
Capital expenditures (241) (294) (341) (305) (364) (350) (357) (320)
Net cash used in financing activities $ (138) $ 37 $ 272 $ (285) $ 4 $ 461 $ 263 $ 148
Cash dividends paid (67) (67) (71) (70) (70) (70) (71) (70)
Effect of exchange rate changes on cash $ 55 $ (7) $ (0) $ 18 $ 6 $ 3 $ 2 $ (10)
Net change in cash and cash equivalents $ (18) $ (27) $ (26) $ 24 $ (125) $ 121 $ 0 $ 7
Short-term debt $ 752 $ 847 $ 1,234 $ 1,041 $ 1,154 $ 760 $ 1,202 $ 1,021
Long-term debt (including current portion) 3,313 3,378 3,363 3,370 3,415 4,294 4,321 4,834
Cash & cash equivalents 302 273 259 286 153 277 282 294
Net debt $ 3,763 $ 3,952 $ 4,338 $ 4,125 $ 4,416 $ 4,777 $ 5,241 $ 5,561
Segment Contributions (in millions)
Phosphate $ 1,005 $ 1,165 $ 1,099 $ 1,173 $ 1,290 $ 1,015 $ 1,426 $ 1,246
Potash 526 557 570 710 695 686 667 650
Mosaic Fertilizantes 1,399 1,088 934 1,175 1,592 1,146 937 1,034
Corporate and Other(c) (119) 6 18 (53) (125) 127 (32) (106)
Total net sales $ 2,811 $ 2,816 $ 2,621 $ 3,005 $ 3,452 $ 2,974 $ 2,998 $ 2,824
Phosphate $ 8 $ 44 $ 139 $ (8) $ 102 $ (98) $ (48) $ (104)
Potash 109 123 157 194 229 58 177 195
Mosaic Fertilizantes 56 79 98 109 96 (26) (422) (41)
Corporate and Other(c) (58) (146) (56) (51) (88) (34) (79) (86)
Consolidated operating earnings (loss) $ 115 $ 100 $ 338 $ 244 $ 339 $ (100) $ (372) $ (36)
Phosphate(d) 1,475 1,622 1,498 1,546 1,571 1,330 1,936 1,406
Potash(d) 1,996 2,239 2,113 2,343 2,279 2,233 2,159 2,019
Mosaic Fertilizantes 2,879 2,240 1,847 2,232 2,803 2,075 1,618 1,520
Corporate and Other 297 432 361 301 232 540 379 368
Total finished product tonnes sold ('000 tonnes) 6,647 6,533 5,819 6,422 6,885 6,178 6,092 5,313
Sales of Performance Products (third party) ('000 tonnes)(e) 1,001 1,135 681 900 996 520 501 626

Performance Data, 1

Publish Phosphate

The Mosaic Company - Phosphate Segment
Selected Calendar Quarter Financial Information
(Unaudited)
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales - Finished Goods $ 946 $ 1,028 $ 1,118 $ 872 $ 1,264 $ 1,060
Net Sales - Other revenue 153 145 172 143 162 186
Net Sales $ 1,005 $ 1,165 $ 1,099 $ 1,173 $ 1,290 $ 1,015 $ 1,426 $ 1,246
Cost of Goods Sold 863 1,027 932 1,070 1,146 992 1,423 1,251
Gross Margin $ 142 $ 138 $ 167 $ 103 $ 144 $ 23 $ 3 $ (5)
Notable Items Included in Gross Margin - 0 (53) - 0 - 0 (14) - 0 - 0 (7)
Adjusted Gross Margin(b) $ 142 $ 191 $ 167 $ 103 $ 158 $ 23 $ 3 $ 2
SG&A 12 10 12 13 10 11 13 12
Other operating (income) expense 123 84 16 98 32 110 38 87
Operating Earnings $ 8 $ 44 $ 139 $ (8) $ 102 $ (98) $ (48) $ (104)
Plus: Depreciation, Depletion and Amortization 118 143 113 129 129 130 151 133
Plus: Accretion Expense 20 25 25 26 26 25 26 26
Plus: Foreign Exchange Gain (Loss) (5) (4) (3) (7) 10 (3) (1) (6)
Plus: Other Nonoperating Income (Expense) 1 517 - (8) (4) 5 (9) (2)
Plus: Dividends from equity investments - - - - - - - -
Less: Earnings (Loss) from Consolidated Noncontrolling Interests 8 (4) 8 10 11 - 4 9
Plus: Notable Items 131 (388) 10 95 28 85 - 0 90
Adjusted EBITDA(b) $ 265 $ 341 $ 276 $ 217 $ 280 $ 144 $ 115 $ 128
Capital expenditures $ 127 $ 160 $ 236 $ 185 $ 221 $ 207 $ 222 $ 201
Gross Margin $ / tonne of finished product $ 96 $ 85 $ 111 $ 67 $ 92 $ 17 $ 2 $ (4)
Adjusted Gross Margin $ / tonne of finished product $ 96 $ 118 $ 111 $ 67 $ 101 $ 17 $ 2 $ 1
Gross margin as percent of sales 14% 12% 15% 9% 11% 2% 0% -0%
Freight included in finished goods COGS (in millions) $ 79 $ 83 $ 84 $ 93 $ 97 $ 85 $ 115 $ 97
Idle/Turnaround and unabsorbed fixed production costs (excluding notable items) $ 7 $ 24 $ 44 $ 84 $ 42 $ 67 $ 50 $ 60
Operating Data
Sales volumes ('000 tonnes)(d)
DAP/MAP 656 749 846 711 760 618 1,116 777
Performance products(f) 750 814 587 773 750 640 720 513
Other products(i) 69 59 65 62 61 72 100 116
Total Finished Product(d) 1,475 1,622 1,498 1,546 1,571 1,330 1,936 1,406
DAP selling price (fob plant)(q) $ 569 $ 593 $ 623 $ 668 $ 714 $ 686 $ 668 $ 773
Average finished product selling price(g) $ 579 $ 606 $ 632 $ 665 $ 712 $ 656 $ 653 $ 754
Production Volumes ('000 tonnes)
Total tonnes produced(h) 1,625 1,413 1,423 1,505 1,678 1,666 1,641 1,433
Operating Rate 66% 58% 58% 61% 68% 67% 66% 58%
Raw Materials
Ammonia used in production (tonnes) 238 228 214 226 255 251 263 217
Sulfur used in production 739 694 661 732 772 799 762 659
Average costs realized in COGS ($/tonne)
Ammonia (tonne)(j) $ 482 $ 435 $ 416 $ 445 $ 455 $ 550 $ 626 $ 621
Sulfur (long ton)(k) $ 126 $ 127 $ 157 $ 209 $ 272 $ 306 $ 379 $ 522
Blended rock $ 87 $ 87 $ 77 $ 74 $ 80 $ 84 $ 86 $ 90
Phosphate cash conversion costs / production tonne(r) $ 101 $ 118 $ 134 $ 126 $ 131 $ 112 $ 124 $ 129
Cash costs of U.S. mined rock/production tonne(s) $ 56 $ 52 $ 54 $ 51 $ 62 $ 58 $ 63 $ 62
ARO cash spending (in millions) $ 54 $ 72 $ 70 $ 79 $ 60 $ 66 $ 51 $ 53

Performance Data, 2

Publish Potash

The Mosaic Company - Potash Segment
Selected Calendar Quarter Financial Information
(Unaudited)
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales - Finished Goods $ 495 $ 641 $ 633 $ 614 $ 598 $ 566
Net Sales - Other revenue 75 69 62 72 69 84
Net Sales $ 526 $ 557 $ 570 $ 710 $ 695 $ 686 $ 667 $ 650
Cost of Goods Sold 404 434 402 501 459 430 476 443
Gross Margin $ 122 $ 123 $ 168 $ 209 $ 236 $ 256 $ 191 $ 207
Notable Items Included in Gross Margin - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Adjusted Gross Margin(b) $ 122 $ 123 $ 168 $ 209 $ 236 $ 256 $ 191 $ 207
SG&A 7 8 8 8 6 8 9 7
Other operating (income) expense 6 (8) 3 7 1 190 5 5
Operating Earnings $ 109 $ 123 $ 157 $ 194 $ 229 $ 58 $ 177 $ 195
Plus: Depreciation, Depletion and Amortization 69 93 81 79 93 83 90 76
Plus: Accretion Expense 2 2 3 3 3 3 4 4
Plus: Foreign Exchange Gain (Loss) 48 (185) 13 82 (56) 46 (56) (95)
Plus: Other Nonoperating Income (Expense) - 1 (1) 1 3 1 3 1
Plus: Notable Items (48) 178 (13) (81) 57 145 57 97
Adjusted EBITDA(b) $ 180 $ 212 $ 240 $ 278 $ 329 $ 336 $ 275 $ 278
Capital expenditures $ 61 $ 65 $ 45 $ 73 $ 72 $ 53 $ 49 $ 68
Gross Margin $ / tonne of finished product $ 61 $ 55 $ 80 $ 89 $ 104 $ 115 $ 88 $ 103
Adjusted Gross Margin $ / tonne of finished product $ 61 $ 55 $ 80 $ 89 $ 104 $ 115 $ 88 $ 103
Gross margin as a percent of sales 23% 22% 29% 29% 34% 37% 29% 32%
Supplemental Cost Information
Canadian resource taxes $ 45 $ 56 $ 47 $ 62 $ 87 $ 77 $ 67 $ 70
Royalties $ 9 $ 10 $ 9 $ 10 $ 12 $ 11 $ 12 $ 10
Freight expense(l) $ 87 $ 60 $ 74 $ 74 $ 66 $ 73 $ 76 $ 76
Idle/Turnaround and unabsorbed fixed production costs (excluding notable items) $ 23 $ 6 $ 1 $ 34 $ 16 $ 8 $ 5 $ 26
Operating Data
Sales volumes ('000 tonnes)(d)
MOP 1,775 2,064 1,947 2,122 2,110 2,083 1,971 1,892
Performance products (m) 211 168 159 214 162 143 181 122
Other products(i) 10 7 7 7 7 7 7 5
Total Finished Product(d) 1,996 2,239 2,113 2,343 2,279 2,233 2,159 2,019
Crop Nutrients North America 647 779 863 752 649 679 712 670
Crop Nutrients International 1,255 1,341 1,126 1,439 1,497 1,412 1,280 1,192
Non-Agricultural 94 119 124 152 133 142 167 157
Total Finished Product(d) 1,996 2,239 2,113 2,343 2,279 2,233 2,159 2,019
MOP selling price (fob mine)(o) $ 215 $ 199 $ 223 $ 261 $ 271 $ 264 $ 265 $ 275
Average finished product selling price(g) $ 233 $ 214 $ 234 $ 274 $ 278 $ 275 $ 277 $ 280
Production Volumes ('000 tonnes)
Production Volume 1,904 2,332 2,256 2,094 2,258 2,189 2,209 1,845
Operating Rate 66% 81% 78% 73% 79% 76% 77% 64%
MOP cash costs of production / production tonne(n) $ 74 $ 73 $ 78 $ 75 $ 71 $ 77 $ 84 $ 84
ARO cash spending (in millions) $ 2 $ 3 $ 1 $ 3 $ 2 $ 4 $ 1 $ 2
Average CAD / USD $ 1.364 $ 1.399 $ 1.434 $ 1.384 $ 1.377 $ 1.394 $ 1.372 $ 1.384

Performance Data, 3

Publish Mosaic Fertilizantes

The Mosaic Company - Mosaic Fertilizantes Segment
Selected Calendar Quarter Financial Information
(Unaudited)
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales - Finished Goods $ 834 $ 1,059 $ 1,452 $ 1,024 $ 852 $ 889
Net Sales - Other revenue $ 100 $ 116 $ 140 $ 122 $ 85 145
Net Sales $ 1,399 $ 1,088 $ 934 $ 1,175 $ 1,592 $ 1,146 $ 937 $ 1,034
Cost of Goods Sold 1,271 986 807 1,013 1,410 1,125 902 1,028
Gross Margin $ 128 $ 102 $ 127 $ 162 $ 182 $ 21 $ 35 $ 6
Notable Items Included in Gross Margin 6 9 - 0 - 0 (7) - 0 (26) (26)
Adjusted Gross Margin(b) $ 122 $ 93 $ 127 $ 162 $ 189 $ 21 $ 61 $ 32
SG&A 62 16 23 61 32 32 36 32
Other operating (income) expense 10 7 6 (8) 54 15 421 15
Operating Earnings $ 56 $ 79 $ 98 $ 109 $ 96 $ (26) $ (422) $ (41)
Plus: Depreciation, Depletion and Amortization 39 40 38 44 46 46 66 74
Plus: Accretion Expense 4 4 4 4 4 4 5 4
Plus: Foreign Exchange Gain (Loss) 17 (84) 41 (17) (19) (57) 30 2
Plus: Other Nonoperating Income (Expense) (2) (2) (1) (1) (1) (2) (2) (2)
Less: Earnings (Loss) from Consolidated Noncontrolling Interests - 1 1 (1) 1 1 - (2)
Plus: Notable Items (31) 46 (57) 19 116 81 402 21
Adjusted EBITDA(b) $ 83 $ 82 $ 122 $ 159 $ 241 $ 45 $ 79 $ 60
Capital Expenditures $ 51 $ 64 $ 59 $ 46 $ 70 $ 85 $ 86 $ 47
Gross Margin $ / tonne of finished product $ 44 $ 46 $ 69 $ 73 $ 65 $ 10 $ 22 $ 4
Adjusted Gross Margin $ / tonne of finished product $ 42 $ 42 $ 69 $ 73 $ 67 $ 10 $ 38 $ 21
Gross margin as a percent of sales 9% 9% 14% 14% 11% 2% 4% 1%
Idle/Turnaround and unabsorbed fixed production costs (excluding notable items) $ 40 $ 18 $ 13 $ 26 $ 27 $ 62 $ 24 $ 61
Operating Data
Sales volumes ('000 tonnes)
Fertilizer produced in Brazil sold to third parties 629 461 331 387 363 289 282 265
Fertilizer produced in Brazil sold through distribution 409 207 358 666 685 290 300 391
Purchased nutrients for distribution(p) 1,841 1,572 1,158 1,179 1,755 1,496 1,036 864
Total Finished Product 2,879 2,240 1,847 2,232 2,803 2,075 1,618 1,520
Sales of Performance Products ('000 tonnes)(e) 462 307 93 252 441 253 134 262
Brazil MAP price (Brazil production delivered price to third party) $ 601 $ 632 $ 681 $ 729 $ 738 $ 717 $ 728 $ 835
Average finished product selling price(g) $ 447 $ 433 $ 452 $ 474 $ 518 $ 493 $ 527 $ 585
Production Volumes ('000 tonnes)
Phosphate tonnes produced 779 781 778 843 834 683 656 466
MOP tonnes produced 105 108 97 122 104 27 - 0 - 0
Phosphate operating rate 78% 78% 78% 84% 84% 68% 66% 47%
Potash operating rate 85% 88% 78% 98% 83% 22% 0% 0%
Realized Costs ($/tonne)
Ammonia/tonne $ 572 $ 628 $ 684 $ 601 $ 576 $ 638 $ 722 $ 815
Sulfur (long ton) $ 170 $ 177 $ 219 $ 270 $ 325 $ 371 $ 466 $ 516
Blended rock $ 105 $ 109 $ 97 $ 94 $ 99 $ 98 $ 104 $ 105
Purchases ('000 tonnes)
DAP/MAP from Mosaic 43 54 62 21 45 5 38 81
MicroEssentials® from Mosaic 337 195 120 282 270 211 310 223
Potash from Mosaic/Canpotex 682 419 355 507 919 238 542 660
Phosphate cash conversion costs in USD, production / tonne(r) $ 88 $ 85 $ 87 $ 84 $ 99 $ 113 $ 113 $ 141
Potash cash conversion costs in USD, production / tonne $ 175 $ 151 $ 187 $ 178 $ 240 $ 286 $ - $ -
Mined rock costs in USD, cash produced / tonne $ 105 $ 93 $ 87 $ 90 $ 91 $ 88 $ 116 $ 106
ARO cash spending (in millions) 6 5 1 1 1 1 1 1
Average BRL / USD $ 5.546 $ 5.842 $ 5.853 $ 5.669 $ 5.445 $ 5.396 $ 5.264 $ 5.051

Performance Data, 4

Publish Corporate

The Mosaic Company - Corporate and Other Segment
Selected Calendar Quarter Financial Information
(Unaudited)
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Net Sales and Gross Margin (in millions)
Segment income statement
Net Sales $ (119) $ 6 $ 18 $ (53) $ (125) $ 127 $ (32) $ (106)
Cost of Goods Sold (143) 67 (8) (97) (115) 84 (39) (112)
Gross Margin (Loss) $ 24 $ (61) $ 26 $ 44 $ (10) $ 43 $ 7 $ 6
Notable Items Included in Gross Margin 38 (80) 59 51 (27) 2 (2) - 0
Adjusted Gross Margin(b) $ (14) $ 19 $ (33) $ (7) $ 17 $ 41 $ 9 $ 6
SG&A 68 79 80 85 78 68 78 80
Other operating (income) expense 14 6 2 10 - 0 9 8 12
Operating Earnings (Loss) $ (58) $ (146) $ (56) $ (51) $ (88) $ (34) $ (79) $ (86)
Plus: Depreciation, Depletion and Amortization 12 7 11 10 9 9 10 9
Plus: Share-Based Compensation Expense 5 7 10 7 7 6 10 8
Plus: Foreign Exchange Gain (Loss) 40 (145) 82 111 64 (15) 64 60
Plus: Other Nonoperating Income (Expense) - 39 (116) 213 308 (89) 113 (160)
Plus: Earnings (Loss) from equity investments - - - 2 - - - -
Less: Earnings (Loss) from Consolidated Noncontrolling Interests (1) (1) 2 - - - - (1)
Plus: Notable Items (80) 196 (23) (380) (344) 103 (171) 109
Adjusted EBITDA(b) $ (80) $ (41) $ (94) $ (88) $ (44) $ (20) $ (53) $ (59)
Elimination of profit in inventory included in COGS $ (3) $ 7 $ (49) $ - 0 $ 15 $ 21 $ 5 $ 5
Unrealized gain (loss) on derivatives included in COGS $ 39 $ (80) $ 59 $ 51 $ 27 $ 2 $ (4) $ - 0
Operating Data
Sales volumes ('000 tonnes) 297 432 361 301 232 540 379 368
Sales of Performance Products ('000 tonnes) 4 4 3 - 0 - 0 4 1 4
Average finished product selling price (destination)(g) $ 371 $ 363 $ 404 $ 434 $ 499 $ 459 $ 467 $ 489
Purchases ('000 tonnes)
DAP/MAP from Mosaic - 0 - 0 2 2 - 0 1 - 0 2
MicroEssentials® from Mosaic 2 3 31 1 5 7 4 2
Potash from Mosaic/Canpotex 326 209 310 197 249 262 259 234

Performance Data, 5

Qtrly Notable Items

The Mosaic Company
Selected Calendar Quarter Financial Information
(Unaudited)
Notable Items
Q2 2026
Description Segment Line Item Amount (in millions) Tax Effect(t) (in millions) EPS Impact (per basic share)
Foreign currency transaction gain (loss) Consolidated Foreign currency transaction gain (loss) $ (49) $ 18 $ (0.10)
Unrealized gain (loss) on derivatives Corporate and Other Cost of goods sold - 0 - 0 - 0
Closed and indefinitely idled facility costs Phosphate Other operating income (expense) (15) 2 (0.03)
Closed and indefinitely idled facility costs Brazil Other operating income (expense) (13) 1 (0.03)
Ma'aden mark-to-market Corporate and Other Other non-operating income (expense) (162) 26 (0.43)
Realized gain (loss) on RCRA Trust Securities Phosphate Other non-operating income (expense) (1) - 0 - 0
Loss on assets held for sale/ transaction costs Potash/Corporate Loss on assets sold and to be sold/SG&A (9) 2 (0.03)
Accelerated depreciation Brazil Cost of goods sold (26) 2 (0.08)
Land Reclamation - ARO Phosphate Cost of goods sold (7) 2 (0.02)
Asset write-off Phosphate Other operating income (expense) (69) 14 (0.17)
Income tax adjustment Consolidated (Provision for) benefit from income taxes - 0 (31) (0.10)
Total Notable Items $ (351) $ 36 $ (0.99)
Q1 2026
Description Segment Line Item Amount (in millions) Tax Effect(t) (in millions) EPS Impact (per basic share)
Foreign currency transaction gain (loss) Consolidated Foreign currency transaction gain (loss) $ 24 $ (2) $ 0.06
Unrealized gain (loss) on derivatives Corporate and Other Cost of goods sold (2) 0 0.00
Closed and indefinitely idled facility costs Phosphate Other operating income (expense) (15) 1 (0.04)
Ma'aden mark-to-market Corporate and Other Other non-operating income (expense) 112 (8) 0.33
Realized gain (loss) on RCRA Trust Securities Phosphate Other non-operating income (expense) (2) 0 (0.01)
Environmental reserves Phosphate Other operating income (expense)/Noncontrolling Interest (21) 1 (0.06)
Gain on sale of land Phosphate Other operating income (expense) 31 (2) 0.09
Loss on assets held for sale and other assets Brazil Other operating income (expense)/Loss on assets to be sold (302) 59 (0.76)
Restructuring and cost reduction Consolidated Other operating income (expense)/SG&A (98) 7 (0.29)
Accelerated depreciation Brazil Cost of goods sold (26) 2 (0.08)
Closed and indefinitely idled facility costs Brazil Other operating income (expense) (24) 2 (0.07)
Discrete Tax Corporate (Provision for) benefit from income taxes - 0 (10) (0.03)
Total Notable Items $ (323) $ 50 $ (0.86)
Q4 2025
Description Segment Line Item Amount (in millions) Tax Effect(t) (in millions) EPS Impact (per basic share)
Foreign currency transaction gain (loss) Consolidated Foreign currency transaction gain (loss) $ (44) $ 6 $ (0.12)
Unrealized gain (loss) on derivatives Corporate and Other Cost of goods sold 2 (2) 0.00
Closed and indefinitely idled facility costs Phosphate Other operating income (expense) (14) 7 (0.02)
Ma'aden mark-to-market Corporate and Other Other non-operating income (expense) (90) 7 (0.25)
ARO Adjustment Phosphate/Potash Other operating income (expense) (64) 20 (0.14)
Environmental Reserve Phosphate Other operating income (expense) (21) 8 (0.04)
Realized gain (loss) on RCRA Trust Securities Phosphate Other non-operating income (expense) 8 (2) 0.01
Net Gain on assets held for sale and transaction fees Brazil/Corp Other operating income (expense)/SG&A 100 (40) 0.18
Impairment of goodwill and asset write-offs Brazil Impairment of goodwill (110) 20 (0.28)
Loss on assets held for sale Potash Loss (gain) on assets sold and to be sold (189) 69 (0.38)
Brazil Valuation Adjustment Brazil (Provision for) benefit from income taxes - 0 (261) (0.82)
Total Notable Items $ (422) $ (168) $ (1.86)
Q3 2025
Description Segment Line Item Amount (in millions) Tax Effect(t) (in millions) EPS Impact (per basic share)
Foreign currency transaction gain (loss) Consolidated Foreign currency transaction gain (loss) $ (14) $ 3 $ (0.04)
Unrealized gain (loss) on derivatives Corporate and Other Cost of goods sold (27) 7 (0.06)
Closed and indefinitely idled facility costs Phosphate Other operating income (expense) (14) 3 (0.03)
Ma'aden mark-to-market Corporate and Other Other non-operating income (expense) 308 (80) 0.71
Environmental Reserve Phosphate Other operating income (expense) (18) 5 (0.04)
Loss on assets held for sale and transaction fees Mosaic Fetilizantes/Corporate Other operating income (expense)/Selling, general and adminstrative expenses (75) (0.23)
Asset write-off Moaic Fertilizantes Cost of goods sold/Other operating income (expense) (11) 3 (0.03)
Land Reclamation Phosphate Cost of goods sold (14) 4 (0.03)
Total Notable Items $ 135 $ (55) $ 0.25
Q2 2025
Description Segment Line Item Amount (in millions) Tax Effect(t) (in millions) EPS Impact (per basic share)
Foreign currency transaction gain (loss) Consolidated Foreign currency transaction gain (loss) $ 169 $ (45) $ 0.39
Unrealized gain (loss) on derivatives Corporate and Other Cost of goods sold 51 (14) 0.11
Closed and indefinitely idled facility costs Phosphate Other operating income (expense) (14) 4 (0.03)
Ma'aden mark-to-market Corporate and Other Other non-operating income (expense) 216 (58) 0.50
ARO Adjustment Phosphate Other operating income (expense) (44) 12 (0.10)
Environmental Reserve Phosphate Other operating income (expense) (32) 9 (0.07)
Realized gain (loss) on RCRA Trust Securities Phosphate Other non-operating income (expense) (7) 2 (0.02)
Total Notable Items $ 339 $ (90) $ 0.78
Q1 2025
Description Segment Line Item Amount (in millions) Tax Effect(t) (in millions) EPS Impact (per basic share)
Foreign currency transaction gain (loss) Consolidated Foreign currency transaction gain (loss) $ 148 $ (43) $ 0.33
Unrealized gain (loss) on derivatives Corporate and Other Cost of goods sold 59 (17) 0.13
Closed and indefinitely idled facility costs Phosphate Other operating income (expense) (14) 3 (0.03)
Ma'aden mark-to-market Corporate and Other Other non-operating income (expense) (117) 34 (0.26)
ARO Adjustment Phosphate Other operating income (expense) (2) 1 (0.00)
Discrete tax items Consolidated (Provision for) benefit from income taxes - 0 30 0.09
Total Notable Items $ 74 $ 8 $ 0.26
Q4 2024
Description Segment Line Item Amount (in millions) Tax Effect(t) (in millions) EPS Impact (per basic share)
Foreign currency transaction gain (loss) Consolidated Foreign currency transaction gain (loss) $ (390) $ 75 $ (0.99)
Unrealized gain (loss) on derivatives Corporate and Other Cost of goods sold (80) 15 (0.20)
Closed and indefinitely idled facility costs Phosphate Other operating income (expense) (13) 2 (0.04)
FX functional currency Mosaic Fertilizantes Cost of goods sold 9 (2) 0.02
Realized gain (loss) on RCRA Trust Securities Phosphate Other non-operating income (expense) (5) 1 (0.01)
ARO Adjustment Phosphate Other operating income (expense) (23) 4 (0.06)
Hurricane Milton idle costs Phosphate Cost of goods sold (52) 10 (0.13)
Gain on sale of equity investment Phosphate Other non-operating income (expense) 522 (43) 1.51
Ma'aden mark-to-market Corporate and Other Other non-operating income (expense) 28 (5) 0.07
ARO Adjustment Potash Other operating income (expense) 7 (1) 0.02
Arbitration reserve Phosphate Other Operating Expense/Non Controlling Interest (43) 9 (0.11)
Total Notable Items $ (40) $ 65 $ 0.08
Q3 2024
Description Segment Line Item Amount (in millions) Tax Effect(t) (in millions) EPS Impact (per basic share)
Foreign currency transaction gain (loss) Consolidated Foreign currency transaction gain (loss) $ 111 $ (35) $ 0.22
Unrealized gain (loss) on derivatives Corporate and Other Cost of goods sold 38 (11) 0.09
Closed and indefinitely idled facility costs Phosphate Other operating income (expense) (15) 5 (0.03)
FX functional currency Mosaic Fertilizantes Cost of goods sold 6 (2) 0.01
Realized gain (loss) on RCRA Trust Securities Phosphate Other non-operating income (expense) 5 (2) 0.01
ARO Adjustment Phosphate Other operating income (expense) (102) 31 (0.22)
Environmental reserve Phosphate Other operating income (expense) (20) 6 (0.04)
Total Notable Items $ 23 $ (8) $ 0.04

Non-GAAP Financial Measures

The Mosaic Company
Selected Calendar Quarter Financial Information
(Unaudited)
Non-GAAP Financial Measures
In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), Mosaic has presented in this Selected Calendar Quarter Financial Information certain non-GAAP financial measures, or measures calculated based on non-GAAP financial measures, including: Adjusted Diluted Net Earnings Per Share, Consolidated Adjusted EBITDA, Segment Adjusted EBITDA, and Adjusted Gross Margin. Generally, a non-GAAP financial measure is a supplemental numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Each of the non-GAAP financial measures we present is determined as described below.
The non-GAAP financial measures we present should not be considered as substitutes for, or superior to, measures of financial performance prepared in accordance with GAAP. In addition, because these non-GAAP measures, as presented, are not determined in accordance with GAAP, they are thus susceptible to varying interpretations and calculations and may not be comparable to other similarly titled measures of other companies.
Adjusted Diluted Net Earnings Per Share
Adjusted diluted net earnings per share is defined as diluted net earnings per share, excluding the impact of notable items. Notable items impact on diluted net earnings per share is calculated as notable item amount plus income tax effect, based on expected annual effective tax rate, divided by diluted weighted average shares. Management believes that adjusted diluted net earnings per share provides securities analysts, investors and others, in addition to management, with useful supplemental information regarding our performance by excluding certain items that may not be indicative of or are unrelated to our core operating results. Management utilizes adjusted diluted net earnings per share in analyzing and assessing Mosaic's overall performance, for financial and operating decision-making, and to forecast and plan for the future periods. Adjusted diluted net earnings per share also assists our management in comparing our and our competitors' operating results. Reconciliations of adjusted diluted net earnings per share to diluted net earnings per share for the periods presented are provided under "Consolidated Data" on the first page of this Selected Calendar Quarter Financial Information.
Consolidated Adjusted EBITDA
Consolidated Adjusted EBITDA is defined as consolidated Net Income (Loss) before net interest expense, depreciation, depletion and amortization, asset retirement obligation accretion, share-based compensation expense and provision for/(benefit from) income taxes less equity in net earnings (loss) of nonconsolidated companies, net of dividends. As of January 1, 2025, we are no longer adjusting for equity in net earnings (loss) of nonconsolidated companies, net of dividends as we sold our equity investment in MWSPC in 2024. Consolidated Adjusted EBITDA is also adjusted for notable items that management excludes in analyzing our performance. Consolidated Adjusted EBITDA is a non-GAAP financial measure that we provide to assist securities analysts, investors, lenders and others in their comparisons of operational performance, valuation and debt capacity across companies with differing capital, tax and legal structures. Consolidated Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, consolidated Net Income (Loss) as a measure of operating performance. A reconciliation of Consolidated Net Income (Loss) to Consolidated Adjusted EBITDA is provided below.
(in millions) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Consolidated Net Income (Loss) $ 122 $ 169 $ 238 $ 411 $ 411 $ (519) $ (258) $ (273)
Less: Consolidated Interest Expense, Net (42) (47) (41) (53) (46) (48) (55) (63)
Plus: Consolidated Depreciation, Depletion & Amortization 238 283 243 262 277 268 317 292
Plus: Accretion Expense 26 31 32 33 33 32 35 34
Plus: Share-Based Compensation Expense 5 7 10 8 7 6 10 8
Plus: Consolidated Provision for (Benefit from) Income Taxes 48 34 63 146 175 256 (31) (34)
Less: Equity in net earnings (loss) of nonconsolidated companies, net of dividends 5 9 - - - - - -
Plus: Notable Items (28) 32 (83) (347) (143) 414 288 317
Consolidated Adjusted EBITDA $ 448 $ 594 $ 544 $ 566 $ 806 $ 505 $ 416 $ 407
Segment Adjusted EBITDA
Adjusted EBITDA presented at the segment level is defined as the related segment's operating earnings (loss) plus depreciation, depletion and amortization, plus asset retirement obligation accretion, plus foreign exchange gain (loss), plus other income (expense) plus dividends from equity investments, less earnings (loss) from noncontrolling interests. As of January 1, 2025, we are no longer adjusting for equity in net earnings (loss) of nonconsolidated companies, net of dividends as we sold our equity investment in MWSPC in 2024 that represented nearly all of these historical earnings. Adjusted EBITDA is also adjusted for notable items that management excludes in analyzing our performance. We provide these non-GAAP financial measures because we believe they are relevant and useful to securities analysts, investors and others because they are part of our internal management reporting and planning process, and our management uses these measures to evaluate the operational performance and valuation of our segments. Management also uses these measures as a method of comparing segment, performance with that of its competitors. Segment Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, segment Operating Earnings (Loss) and segment Operating Earnings (Loss)/sales tonne, respectively, as measures of operating performance. Management believes Operating Earnings (Loss) and segment Operating Earnings (Loss)/sales tonne, respectively, are the most directly comparable GAAP measures because we do not allocate taxes on a segment basis. Reconciliations of Segment Adjusted EBITDA to segment Operating Earnings (Loss) and segment Operating (Loss) Earnings/sales tonne, respectively, are provided as part of each segment's Selected Calendar Quarter Financial Information.
Adjusted Gross Margin
Adjusted gross margin is defined as gross margin excluding the impact of notable items. Management believes the adjusted measures provides security analysts, investors, management & others with useful supplemental information regarding our performance by excluding certain items that may not be indicative of, or are unrelated to, our core operating results. Management utilizes adjusted gross margin in analyzing and assessing Mosaic's overall performance for financial and operating decision-making and to forecast and plan for future periods.

Footnotes

Footnotes
(a) Notable items impact on Earnings Per Share is calculated as notable item amount plus income tax effect, based on expected annual effective tax rate, divided by diluted weighted average shares. Adjusted Diluted Net Earnings per Share is defined as diluted net earnings (loss) per share excluding the impact of notable items. See "Non-GAAP Reconciliations".
(b) See definition of Adjusted EBITDA and Adjusted Gross Margin under "Non-GAAP Reconciliations".
(c) Includes elimination of intersegment sales.
(d) Finished product sales volumes include intersegment sales.
(e) Includes MicroEssentials, K-Mag, Aspire and Sus-Terra sales tonnes.
(f) Includes MicroEssentials performance products.
(g) Average price of all finished products sold by Potash, Phosphates, Mosaic Fertilizantes and India/China. Amounts prior to January 1, 2025 have been recast to exclude revenue from other non-finished goods.
(h) Includes crop nutrient dry concentrates and animal feed ingredients.
(i) Includes finished goods sales of feed and other products.
(j) Amounts are representative of our average ammonia costs in cost of goods sold.
(k) Amounts are representative of our average sulfur costs in cost of goods sold.
(l) Includes inbound freight, outbound freight and warehousing costs on K-Mag, animal feed and domestic MOP sales.
(m) Includes K-Mag and Aspire finished performance products.
(n) MOP cash costs of production are reflective of actual costs during the period excluding brine management costs, depreciation, depletion, accretion, carbon-based and Canadian resource tax, idle and turnaround costs. Total Production costs for MOP production excludes K-Mag costs, Aspire raw material costs and incremental Aspire operating costs.
(o) Excludes industrial and feed sales. Price has been calculated using the average monthly foreign exchange rate.
(p) Includes sales volumes of phosphate and potash nutrients purchased from other Mosaic segments and Canpotex.
(q) Includes intersegment sales.
(r) Total production costs less depreciation, ARO costs including accretion and idle and turnaround costs divided by metric tonnes of finished phosphate production in the period.
(s) Total production cost less depreciation/depletion, ARO costs including accretion and idle and turnaround costs divided by metric tonnes of rock produced in the period.
(t) Tax impact is based on our expected annual effective tax rate.

Forecast Flash Report

Forecast Flash Report - Consolidated Not Started
Q1 Q2 Q3 Q4 Full Year Get from Consolidations or FP&A
($ in millions)
2021 Actual Actual 2021 Actual Actual 2021 Forecast Actual 2021 Forecast Actual 2021 Forecast YTD No longer prepared
Net sales 2,297 3,922 3,922 2,801 5,373 5,373 3,418 5,559 5,349 3,841 6,983 4,481 12,357 19,825 19,125
COGS 1,862 2,483 2,483 2,048 3,526 3,526 2,554 3,843 3,846 2,692 4,644 3,513 9,156 13,711 13,369
Gross margin 435 1,439 1,439 752 1,846 1,846 865 1,716 1,502 1,149 2,340 968 897 6,114 5,756
% of Net sales 19% 37% 37% 27% 34% 34% 25% 31% 28% 30% 34% 22% 26% 31% 30%
SG&A 102 132 132 108 108 108 98 142 125 124 113 133 432 497 498
Other operating (income)/expense 20 51 51 161 64 64 65 126 223 55 15 135 301 386 473
Operating earnings (loss) 313 1,239 1,239 484 1,674 1,674 702 1,448 1,155 970 2,212 701 2,469 5,232 4,785
% of Net sales 14% 32% 32% 17% 31% 31% 21% 26% 22% 25% 32% 16% 20% 26% 25%
Interest (expense) (50) (44) (44) (44) (43) (43) (55) (39) (38) (46) (45) (44) (195) (173) (169)
Foreign currency transaction (gain) loss (46) 311 311 111 (227) (227) (100) (1) (61) (44) - 75 (79) 83 98
Interest income 5 5 5 6 9 9 7 15 8 7 32 10 25 34 31
Other non operating income (expense) 3 - - 1 (36) (36) 1 - (2) (1) (1) (65) 4 (38) (102)
Earnings before taxes 225 1,527 1,527 559 1,377 1,377 554 1,422 1,061 886 2,199 677 2,224 5,138 4,643
Tax provision (benefit) 60 372 372 116 369 369 177 345 277 245 550 206 598 1,314 1,224
Tax rate 26.5% 24.4% 24.4% 20.7% 26.8% 26.8% 31.9% 24.2% 26.1% 28.0% 25.0% 30.4% 26.9% 25.6% 26.4%
Equity earnings (loss) (7) 31 31 (5) 36 36 (1) 73 72 21 45 57 8 195 196
Minority interest earnings (loss) (1) (4) (4) (2) (8) (8) (5) (10) (14) 3 - (5) (5) (35) (31)
Net earnings attributable to Mosaic 157 1,182 1,182 437 1,036 1,036 372 1,140 842 665 1,695 523 1,631 3,983 3,583
Diluted weighted avg shares outstanding 382.8 370.1 370.1 383.3 363.1 363.1 383.2 355.9 347.7 377.5 363.3 343.8 381.6 356.4 356.0
EPS $0.41 $3.19 $3.19 $1.14 $2.85 $2.85 $0.97 $3.20 $2.42 $1.76 $4.67 $1.52 $4.27 11.18 $10.06
EBITDA Excluding Notables 560 1,451 1,451 829 2,028 2,028 969 1,775 1,686 1,227 2,445 1,051 3,585 6,566 6,216
-
Adjusted EPS $0.57 $2.41 $2.41 $1.17 $3.64 $3.64 $1.35 $3.40 $3.22 1.95 $4.66 $1.74 $5.04 11.89 $11.01

Forecast Flash Report 2

Forecast Flash Report - Segment Not Started
Q1 Q2 Q3 Q4 Full Year
($ in millions) No longer prepared
2021 Actual Actual 2021 Actual Actual 2021 Forecast Actual 2021 Forecast Actual 2021 Forecast YTD
Phosphates
Net Sales 1,001 1,496 1,496 1,175 1,801 1,801 1,281 1,616 1,578 1,466 1,913 1,310 4,923 6,407 6,184
COGS 828 968 968 866 1,159 1,159 917 1,217 1,220 1,006 1,314 1,078 3,617 4,437 4,425
Gross margin 173 528 528 309 642 642 364 399 358 460 599 232 1,306 1,970 1,759
% of sales 17.2% 35.3% 35.3% 26.0% 35.6% 35.6% 28.4% 24.7% 22.7% 31.4% 31.3% 17.7% 4.0% 30.8% 28.4%
Gross Margin (GAAP) Per Tonne 84 318 318 156 383 383 198 250 217 254 147 170 292 268
Adj Gross Margin Per Tonne ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! 167 173 296 274
SG&A 10 8 8 10 10 10 7 10 7 15 12 15 42 38 41
Other (income) expense 10 27 27 15 53 53 31 113 219 27 1 71 83 333 371
Operating earnings 153 493 493 283 578 578 326 275 131 418 586 145 1,180 1,599 1,347
% of sales 15.3% 32.9% 32.9% 24.1% 32.1% 32.1% 25.4% 17.0% 8.3% 28.5% 30.6% 11.1% -5.0% 25.0% 21.8%
EBITDA Excluding Notables 272 632 632 408 758 758 479 495 481 571 701 348 1,730 2,422 2,220
Potash
Net Sales 477 1,060 1,060 663 1,580 1,580 589 1,487 1,432 897 2,192 1,136 2,626 5,369 5,209
COGS (Excluding CRT) 302 324 324 391 378 378 296 373 375 320 504 361 1,309 1,439 1,438
Gross margin (excluding CRT) 175 736 736 272 1,202 1,202 293 1,114 1,057 577 1,687 775 1,317 3,930 3,771
% of sales 36.7% 69.5% 69.5% 40.9% 76.1% 76.1% 49.8% 75.0% 73.8% 64.3% 77.0% 68.2% 50.2% 73.2% 72.4%
CRT 35 157 157 54 275 275 57 274 258 113 361 238 259 941 928
Gross margin (including CRT) 140 579 579 217 928 928 236 841 799 464 1,327 538 1,057 2,989 2,843
% of sales 29.4% 54.6% 54.6% 32.8% 58.7% 58.7% 40.1% 56.5% 55.8% 51.7% 60.5% 47.3% 40.3% 55.7% 54.6%
Gross Margin (GAAP) Per Tonne 82 323 323 100 403 403 131 381 373 224 289 129 361 351
Adj Gross Margin Per Tonne ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! 289 134 361 351
SG&A 8 7 7 8 8 8 7 7 6 11 5 9 34 28 30
Other (income) expense 9 9 9 161 5 5 8 6 - 10 5 32 188 17 45
Operating earnings 125 563 563 49 915 915 220 827 793 443 1,317 496 837 2,944 2,768
% of sales 26.2% 53.2% 53.2% 4.9% 60.6% 60.6% 37.3% 55.6% 55.4% 49.4% 60.1% 43.7% 31.8% 54.8% 53.1%
EBITDA Excluding Notables 212 651 651 285 998 998 272 909 781 517 1,399 596 1,286 3,271 3,116

Forecast Flash Report 3

Forecast Flash Report - Segment Not Started
Q1 Q2 Q3 Q4 Full Year
($ in millions) No longer prepared
2021 Actual Actual 2021 Actual Actual 2021 Forecast Actual 2021 Forecast Actual 2021 Forecast YTD
Mosaic Fertilizantes
Net Sales 763 1,489 1,489 1,036 2,260 2,260 1,755 2,687 2,629 1,534 2,883 1,910 5,088 8,473 8,287
COGS 660 1,270 1,270 851 1,810 1,810 1,423 2,322 2,281 1,312 2,587 1,882 4,246 7,327 7,241
Gross margin 103 219 219 185 450 450 332 365 348 222 296 28 842 1,146 1,046
% of sales 13.5% 14.7% 14.7% 18.4% 19.9% 19.9% 18.9% 13.6% 13.2% 9.2% 10.3% 1.5% 16.6% 13.5% 12.6%
Gross Margin (GAAP) Per Tonne 50 120 120 82 194 194 99 120 123 32 28 83 120 111
Adj Gross Margin Per Tonne ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! ERROR:#REF! 12 81 120 111
SG&A 18 21 21 18 27 27 20 27 26 24 28 29 80 100 102
Other (income) expense (5) 12 12 (4) 3 3 22 - (1) 3 - 0 19 16 21 33
Operating earnings 90 187 187 171 421 421 291 338 323 194 268 (20) 746 1,025 910
% of sales 11.9% 12.5% 12.5% 16.5% 18.6% 18.6% 16.6% 12.6% 12.3% 12.7% 9.3% -1.0% 14.7% 12.1% 11.0%
EBITDA Excluding Notables 104 233 233 204 444 444 317 352 343 197 295 29 822 1,145 1,049
Corporate
Net Sales 55 (122) (122) (73) (268) (268) (207) (231) (290) (57) (4) 125 (282) (424) (555)
COGS 36 (235) (235) (115) (95) (95) (139) (343) (287) (59) (120) (46) (277) (434) (663)
Gross margin 19 113 113 42 (173) (173) (68) 112 (3) 2 116 171 (5) 10 108
% of sales 34.4% -92.6% -92.6% -57.0% 64.7% 64.7% 32.9% -48.4% 0.9% -4.0% -2934.0% 136.7% 1.9% -2.2% -19.5%
SG&A 67 97 97 71 63 63 63 98 86 74 68 80 275 331 325
Other (income) expense 7 3 3 (11) 3 3 4 6 4 15 2 13 15 15 23
Operating earnings (55) 13 13 (18) (239) (239) (134) 8 (93) (86) 45 79 (293) (336) (240)
EBITDA Excluding Notables (27) (65) (65) (67) (172) (172) (99) 19 (9) (58) 51 78 (251) (272) (169)

Significant Items QTR

Mosaic Company Not Started
Q1 2023 SUMMARY of Significant Items
Description Q1 2022 Q2 2022 Q3 2022 Q4 2022 ERROR:#REF! Q1 2022 Forecast Guidance Low-High Yellow highlighted lines need to be entered manually. All forecast data is entered manually No longer prepared
Pricing
Phosphates Average Finished Product Selling Price ($/mt) $584 $681 $758 $794 ERROR:#REF! Linked to performance data
Potash Average Finished Product Selling Price ($/mt) $285 $326 $433 $610 ERROR:#REF! Linked to performance data
Mosaic Fertilizantes Average Finished Product Selling Price ($/mt) $442 $524 $654 $773 ERROR:#REF! Linked to performance data
DAP selling price (fob plant) $544 $605 $676 $722 ERROR:#REF! Linked to performance data
MOP selling price (fob mine) $243 $290 $414 $581 ERROR:#REF! Linked to performance data
Sales Volume
Phosphate (000s mt) 1,982 1,836 1,813 $1,571 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint and Guidance from IR Earnings Presentation Deck
Potash (000s mt) 2,326 1,808 2,072 $1,863 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint and Guidance from IR Earnings Presentation Deck
Mosaic Fertilizantes (000s mt) 2,341 3,350 2,347 2,472 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint and Guidance from IR Earnings Presentation Deck
Performance products (000s mt) 917 1,132 1,077 1,265 ERROR:#REF! Linked to performance data
Adjusted Gross Margin $/tonne
Phosphates (finished product) $156 $208 $259 $167 ERROR:#REF! Linked to performance data and cheat sheet
Potash (including Canadian resource taxes) $100 $131 $224 $289 ERROR:#REF! Linked to performance data and cheat sheet
Mosaic Fertilizantes $81 $98 $85 $12 ERROR:#REF! Linked to performance data and cheat sheet
Adjusted Gross Margin
Corporate (USD in millions) $4 ($41) $20 $157 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint and Guidance from IR Earnings Presentation Deck
Adjusted EBITDA $829 $969 $1,227 $1,051 ERROR:#REF! Linked
Phosphates $408 $479 $571 $348 ERROR:#REF! Linked to performance data and forecast flash
Potash $285 $272 $517 $597 ERROR:#REF! Linked to performance data and forecast flash
Mosaic Fertilizantes $203 $317 $197 $29 ERROR:#REF! Linked to performance data and forecast flash
Corporate ($67) ($99) ($58) $77 ERROR:#REF! Linked to performance data and forecast flash
Consensus EBITDA IR
Earnings Per Share $ 1.14 $ 0.97 $ 1.76 $ 1.52 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint
Adjusted EPS $ 1.17 $ 1.35 $ 1.95 $ 1.74 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint
Consensus EPS IR
Phosphates
Cash costs of U.S. mined rock/production tonne (New) 37 41 44 48 ERROR:#REF! Linked to performance data
Phosphate cash costs of conversion/production tonne (New) $68 $68 $71 $96 ERROR:#REF! Linked to performance data
ARO cash spending $33 $26 $26 $43 $53 Linked to performance data
Raw Materials
North America Ammonia ($/mt) $382 $424 $463 $653 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint
North America Sulfur ($/long ton) $172 $214 $229 $348 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint
North America Blended Rock Cost Consumed in COGS, thru OE ($/mt) $60 $59 $64 $78 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint
Potash
MOP Cash Costs of Production excluding brine / production tonne $62 $72 $71 $76 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint
Brine Inflow (USD in millions) $19 Linked to performance data and FPA Forecast PowerPoint
ARO cash spending $1 $3 $7 $11 ERROR:#REF! Linked to performance data
Canadian Resource Taxes (USD in millions) $54 $57 $113 $238 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint
Royalties (USD in millions) $10 $8 $15 $24 ERROR:#REF! Linked to performance data and FPA Forecast PowerPoint
Mosaic Fertilizantes
Phosphate cash conversion costs in BRL, production / tonne R$383 R$384 R$432 R$483 ERROR:#REF! Linked to performance data and Earnings Book/KPI Request
Mined rock costs in BRL Consumed in COGS / tonne R$422 R$422 R$465 R$559 ERROR:#REF! Linked to performance data and Earnings Book/KPI Request
ARO cash spending $5 $5 $5 $5 ERROR:#REF!
Raw Materials
Ammonia ($/MT) $527 $640 $775 $1,354 ERROR:#REF! Linked to performance data and Earnings Book/KPI Request
Sulfur ($/ long ton) $177 $222 $251 $402 ERROR:#REF! Linked to performance data and Earnings Book/KPI Request
Potash cash conversion costs in BRL, production / tonne R$1,076 R$986 R$1,059 R$1,176 ERROR:#REF! Linked to performance data and Earnings Book/KPI Request
Operating Rates
Phosphate 73% 70% 75% 65% ERROR:#REF! Performance Data and FPA Forecast PowerPoint
Potash 88% 65% 81% 77% ERROR:#REF! Performance Data and FPA Forecast PowerPoint
Mosaic Fertilizantes 72% 91% 89% 87% ERROR:#REF! Performance Data and FPA Forecast PowerPoint
Inventory
Phosphate Finished Product tonnes (000s mt) North America* 592 601 624 787 ERROR:#REF! Linked to inventory tab
Potash tonnes (000s mt)* 601 401 570 1,160 ERROR:#REF! Linked to inventory tab
Phosphate Rock tonnes (000s mt) purchased & mined 7,947 7,811 7,889 7,738 ERROR:#REF! Linked to inventory tab
Mosaic Fertilizantes Finished Product tonnes (000s mt)* 2,115 1,915 2,176 2,212 ERROR:#REF! Linked to inventory tab
Mosaic Fertilizantes Rock tonnes (000s mt) purchased & mined 5,338 5,042 6,668 6,120 ERROR:#REF! Linked to inventory tab
FPD's
Phosphate FPD tonnes (000s mt) 61 61 61 61 61 FPA Phosphate Inventory Roll Forward Schedule
Potash FPD tonnes (000s mt) 73 73 73 73 73 FPA Potash Inventory Roll Forward Schedule
Prepayments
North America & Other (USD in millions) $13 $20 $47 $75 ERROR:#REF! Linked to Cust Prepayments tab
Mosaic Fertilizantes (USD in millions) $868 $473 $391 $669 ERROR:#REF! Linked to Cust Prepayments tab
* Excludes FPD tonnes

FX Gain-Loss Analysis

FX Gain/(Loss) Analysis Not Started
Q1 Q2 Q3 Q4 YTD No longer prepared
Canada
FX G/L - Unrealized $ 21.1 $ - 0 $ - 0 $ - 0 $ 21.1 Found in Hyperion Financials folder on W drive
FX G/L - Realized (9.9) - 0 - 0 - 0 (9.9)
FX Gain (loss) 1 11.1 - 0 - 0 - 0 11.1
MTM-Unrealized 1.8 - 0 - 0 - 0 1.8
MTM-Realized 1.9 - 0 - 0 - 0 1.9
MTM Gain (loss) 3.7 - 0 - 0 - 0 3.7
Total 14.9 - 0 - 0 - 0 14.9
Brazil
FX G/L - Unrealized (22.2) - 0 - 0 - 0 (22.2)
FX G/L - Realized (10.4) - 0 - 0 - 0 (10.4)
FX Gain (loss) 2 (32.5) - 0 - 0 - 0 (32.5)
MTM-Unrealized 16.3 - 0 - 0 - 0 16.3
MTM-Realized (10.1) - 0 - 0 - 0 (10.1)
MTM Gain (loss) 6.2 - 0 - 0 - 0 6.2
Total (26.3) - 0 - 0 - 0 (26.3)
US Entities
FX G/L - Unrealized (31.3) - 0 - 0 - 0 (31.3)
FX G/L - Realized (0.1) - 0 - 0 - 0 (0.1)
FX Gain (loss) 3 (31.4) - 0 - 0 - 0 (31.4)
MTM-Unrealized (3.1) - 0 - 0 - 0 (3.1)
MTM-Realized (4.7) - 0 - 0 - 0 (4.7)
MTM Gain (loss) (7.8) - 0 - 0 - 0 (7.8)
Total (39.2) - 0 - 0 - 0 (39.2)
China, India, Peru, Paraguay
FX G/L - Unrealized 4.6 - 0 - 0 - 0 4.6
FX G/L - Realized 0.1 - 0 - 0 - 0 0.1
FX Gain (loss) 4.7 - 0 - 0 - 0 4.7
MTM-Unrealized 0.7 - 0 - 0 - 0 0.7
MTM-Realized (0.6) - 0 - 0 - 0 (0.6)
MTM Gain (loss) 0.1 - 0 - 0 - 0 0.1
Total 4.8 - 0 - 0 - 0 4.8
Check to financials - FX Gain/(Loss) $ (45.8) $ - 0 $ - 0 $ - 0 $ (45.8)
Overall
FX G/L - Unrealized (27.8) - 0 - 0 - 0 (27.8)
FX G/L - Realized (20.3) - 0 - 0 - 0 (20.3)
FX Gain (loss) 1 (48.1) - 0 - 0 - 0 (48.1)
MTM-Unrealized 15.7 - 0 - 0 - 0 15.7
MTM-Realized (13.5) - 0 - 0 - 0 (13.5)
MTM Gain (loss) 2.2 - 0 - 0 - 0 2.2
Total (45.8) - 0 - 0 - 0 (45.8)
Percent Change
Change in Exchange Rates Q1 Q2 Q3 Q4 YTD
CAD 1.0% -100.0% ERROR:#DIV/0! ERROR:#DIV/0! -100.0%
BRL -8.8% -100.0% ERROR:#DIV/0! ERROR:#DIV/0! -100.0%
INR 0.3% -100.0% ERROR:#DIV/0! ERROR:#DIV/0! -100.0%
The Mosaic Company published this content on August 04, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on August 04, 2026 at 20:16 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]